Frequently Asked Questions

Find answers to some of our most commonly asked questions!

FAQs BY CATEGORY

What is an Installment loan?

A Cash 4 You Installment Loan is money you borrow for any kind of personal use such as paying off credit card debt, investing in home improvements, taking a special vacation, or paying for an engagement ring or wedding expenses. To repay the loan, you make regular scheduled payments over time up to 60 months depending on your loan amount.  An installment loan gives you the flexibility to make big purchases, and then pay it off at a pace that makes sense for you.

What is the difference between an Installment Loan and a Payday Loan?

Payday loans are short-term loans that the borrower pays back on their next pay day. Installment loans are typically for higher dollar amounts than payday loans, and are paid back over time.

Am I eligible for a Cash 4 You Installment Loan?

To be eligible for a Cash 4 You Installment Loan, you must:

  • Be an Ontario resident with a valid government issued photo ID
  • Be at least 18 years of age
  • Have a steady source of income
  • Have an open and active bank account

What is the minimum and maximum I can borrow?

With the Cash 4 You Installment Loan, the minimum amount you can borrow is $1,000 and the maximum is $15,000.

How long does it take to get approved?

You will receive a decision once your loan application is submitted. However, funding of the loan is contingent upon verification of your application information and signature on all loan agreements.

How long does it take to receive the funds?

Once your application is complete and verified, if you are approved for a loan, you can receive your cash same day with in-store pickup.

Do you accept co-signers for Installment Loans?

At this time we do not allow co-signers or joint applications for our Installment Loans.

Will applying for an Installment Loan affect my credit?

To apply for Cash 4 You Installment Loan, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull.

What if I have poor credit?

Your credit report is not the only variable we consider. We utilize risk assessment tools that verify the accuracy of information on your application and may review customer payment history on similar products.

If I am bankrupt, can I still get a loan?

We are able to consider customers who have been discharged for past bankruptcies.

Is the Cash 4 You Installment Loan secured or unsecured?

The Cash 4 You Installment Loan is an unsecured loan. This means that you do not need to provide collateral for the loan.

Are there any origination or prepayment fees?

No. We want to make things simple for our customers, so we have no origination fees, closing costs or prepayment penalties.

How is a Cash 4 You Installment Loan different from credit card debt?

Cash 4 You Installment Loans have a fixed repayment term. Credit cards often have high variable rates and no set repayment term.

How can I make my loan payments?

Your regular scheduled payments are automatically withdrawn from your bank account. You can make additional payments at any time at one of our 100+ locations.

When will my first payment be due?

Your first installment loan payment will be due on your next pay date

Will making a large payment or additional payments change my regular due amount?

Making a large payment or additional payment on an Installment Loan will not automatically reduce your monthly payment. If you make a large or additional payment, the first part of the payment goes toward any interest accrued. The remainder goes toward the principal balance. Your regular scheduled payment amount will stay the same, but you will be on track to pay your loan off early.

Can I refinance my current Cash 4 You Installment Loan?

If your loan is in good standing then you may be able to refinance your loan. If you refinance your loan, then the principal amount will be rolled into a new term in which you will continue to be charged daily interest.

  • General

    Why choose Cash 4 You?

    Cash 4 You is a leading retailer of financial services, including cheque cashing, payday loans and Western Union services. For over a decade, Cash 4 You has been focusing on serving consumers who seek an alternative to traditional banking relationships to gain convenient and immediate access to cash.

    How do Payday Loans, Cash Advances and Payroll Advances work?

    To get a Payday Loan (or Cash Advance) all you need to do is walk into any Cash 4 You store. There are no forms to complete! Our CSR's do all the work! This easy in-store process only takes minutes. Once you're approved, you get the money in hand. On your next payday, your payment is deposited to repay the amount you owe, or you can choose to repay your loan in cash or debit.

    What do I need to apply for a payday loan?

    All you need is to be employed, make at least $250 per net pay and at least 18 years of age and have an active bank account.

    Does it matter if I have bad credit or no credit?

    It does not matter if you have bad credit or no credit at all. Our payday loans are designed to help people in need of emergency credit, so we understand that you may have had credit troubles in the past.

    Do I need collateral to apply for a payday loan?

    No collateral is necessary or accepted.

    Is there any cost to apply for the loan?

    No. You will not be charged to apply for the payday loan, whether or not you are approved.

    How much can I borrow?

    You can borrow up to $1,500. Your first time loan amount will be determined after your approval.

    When will I receive my loan?

    Cash 4 You pays out your cash, instantly! Once you're approved we'll give you cold hard cash on-the-spot!

    Will I need a fax machine to get pre-approved for my first payday loan?

    No. Cash 4 You requires no faxing as a part of the online pre-approval process.

    When do I have to repay the loan?

    Your payday loan will be due on your next/earliest payday. You will be informed of the due date when your loan is approved. You may also have the option to pay off the loan early without any penalty.

    How do I repay my loan?

    Cash 4 You will deposit your repayment or you can come into our store and pay in cash or debit.

    If I pay my loan early, how does that affect my finance charges?

    Paying early will not reduce your finance charge or result in any penalty.

    Is my personal information safe?

    Yes! Cash 4 You values your privacy and internet safety. To read more in our privacy policy, click here.

  • Online loan application

    Why was I declined?

    You may have not met the minimum payday loan requirements. If you require additional details, you can e-mail onlineloans@cash4you.ca.

    How long will it take to get my loan approved?

    Online applications submitted during business hours are approved within 60 minutes on average.

    How long will it take to get money deposited into my account?

    For your convenience,

    • If you select Interac eTransfer®, you will receive your funds within 60 minutes.

    How do I sign my loan documents?

    If you applied online, you electronically sign your loan documents during the application process.

    How Do I repay my loan?

    We currently offer two options for you to repay your loan: cash or debit at any Cash 4 You location or an automated bank withdrawal. You have the option to select your repayment method during your online application.

How do I cash a Cheque

Visit one of our 100+ locations with a cheque made payable to you or your small business and a valid ID and we would cash it instantly.

Why is Cash 4 You different?

We turn thousands of cheques into cash instantly at our 100+ locations. We offer cost-effective option and extended hours to serve you better. No waiting for your cheque to clear through a bank. And no bank account is required to cash your cheque with us.

Can you cash larger cheques?

At Cash 4 You, we cash any cheque for any amount instantly.

What type of cheque do Cash 4 You cash?

At Cash 4 You, we cash most types of cheques including Payroll, Government, Tax Refund, Money Orders, Insurance Settlement, Small Business, and more.

Why Choose Cash 4 You?

Get back on track at full speed!

For all your everyday items. Loans up to $1,500.

For all your bigger purchases. Loans up to $15,000

Take it from us. Better yet, Our customers.

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